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re: "Gifting a boat" to someone.......
Posted on 8/13/12 at 1:24 pm to hogdaddy
Posted on 8/13/12 at 1:24 pm to hogdaddy
quote:Yea im good with the trailer/ DMV deal and will just put low value and pay a few bucks. More worried about the boat
Just write the Boat Trailer bill of sale for One Dollar. If I'm correct you only have to pay taxes on the Trailer.
(Fin - is there no taxes on a boat transfer?)
3
Posted on 8/13/12 at 1:32 pm to The Mick
an act of donation is not a big deal. You can pull one off the internet. I do not think you have to pay taxes on a gift transfer, but you may have to pay for registration fees.
Posted on 8/13/12 at 1:33 pm to The Mick
I boat isn't registered with the DMV.
If it is a gift, there is no sales tax.
If it is less than $13,000 value (not the dollar amount on the sheet of paper) there is no gift tax. Although if it is more than $13,000, there are ways around it too. Specially if pops is married (the 13 doubles if community property and done properly).
If it is a gift, there is no sales tax.
If it is less than $13,000 value (not the dollar amount on the sheet of paper) there is no gift tax. Although if it is more than $13,000, there are ways around it too. Specially if pops is married (the 13 doubles if community property and done properly).
Posted on 8/13/12 at 1:34 pm to The Mick
My only question would be how the DMV sees the trailer transfer. There are no forms for this on the DWF site.
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